Beijing Initial Speed Technology Co., Ltd., widely known as Momenta, is reportedly on the brink of initiating a new round of financing, with its latest valuation soaring to around US$6 billion (approximately RMB 42.832 billion). Earlier this week, Momenta inked a cooperation pact with Mercedes-Benz, paving the way for its technology to be integrated into the brand-new electric CLA model. Mercedes-Benz has ambitious plans to incorporate this cutting-edge technology into 40 upcoming models. In a similar vein, BMW also forged a partnership with Momenta in June of this year, aiming to apply its technology to the Neue Klasse electric vehicle lineup.

Founded in 2016, Momenta boasts a founder and CEO, Cao Xudong, who brings a wealth of experience to the table. As a frontrunner in the intelligent driving sector, Momenta has attracted investments from notable entities such as Tencent and Temasek. Previously, Reuters broke the news that Momenta is contemplating shifting its IPO from New York to Hong Kong. In response to these reports, Momenta clarified that no definitive plan has been set in stone yet.